Gold prices dropped over 1% on Thursday, weighed down by a strengthening dollar and rising Treasury yields, as traders awaited Federal Reserve Chair Jerome Powell’s speech for further insights on potential rate cuts. As of 12:14 p.m. ET (1614 GMT), spot gold fell 1.2% to $2,483 per ounce, following a record high of $2,531.60 on
Gold prices pulled back on Wednesday, easing from Tuesday’s all-time-high rally but staying above the $2,500 per ounce mark. The precious metal traded at $2,505 in the spot market at the time of writing, down by 0.3 percent on the daily chart. The subsidence is attributed to investors’ wait-and-see approach to the Federal Open Market
London’s gold price benchmark showed the precious metal reached an all-time high of $2,521.55 (£1,935) per ounce at an auction on Tuesday morning. The London Bullion Market Association (LBMA) said the price of gold (GC=F) topped the $2,500 mark for the first time in its history of over 100 years at an auction on Monday
Traditionally, a strong dollar and rising bond yields are not good for gold, which doesn’t have a yield of its own. Yet, the spot price of gold has been setting new all-time highs in recent months. On August 11, an ounce hit its latest record price of $2,475.72, up 20% from $2,063.75 at the end
Gold prices rose to 4-week highs of $2,480 per ounce at the spot market on Wednesday before declining significantly as the traders reacted to the July US inflation data. The commodity’s price then fell toward the $2,450 territory at the spot market after the release of the July CPI figures. Earlier, the yellow metal came
Gold prices dropped in a volatile trading session on Wednesday after data revealed that U.S. consumer prices rebounded as anticipated in July. This dampened expectations for a significant rate cut by the Federal Reserve next month. Spot gold declined by 0.4% to $2,455.91 per ounce by 1338 GMT, while U.S. gold futures fell 0.5% to
Gold rate today: Despite the renewed fear of the US recession, geopolitical tension in the Middle East, and the escalating US-China trade war, gold prices remained sideways throughout the week. On the Multi Commodity Exchange (MCX), the gold rate finished at ₹69,850 per 10 gm, logging a ₹58 per 10 gm rise against the previous
Gold price snapped a three-session losing streak on Tuesday as it traded at $2,415 per ounce after gaining 0.2 percent. The precious metal had been under pressure as many investors opted for a selloff amid a global-scale bearish market sentiment. Last week’s release of lower-than-expected July Non Farm Payrolls numbers and a higher-than-expected US unemployment
Gold and Silver rate today (Aug 5, 2024): Domestic precious metal futures on Monday edged higher amid weak US employment data that sent bond yields and the dollar tumbling. At the last count, MCX gold futures (Oct 4) were up Rs 403 or 0.58 per cent at Rs 70,192 per 10 gm. Meanwhile, MCX Silver futures (Sept 5) were up 0.74 per cent or Rs 607 at Rs
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